CT HB05166

Municipalities may enter into written agreements for up to ten years to fix property tax assessments on real property or air space, with authorization by either the legislative body or board of selectmen.

Board of selectmen may independently enter such agreements in municipalities where the town meeting has adopted an ordinance delegating this authority to them.

Assessment-fixing agreements only apply to improvements for specified uses including office, retail, residential (four or more units), manufacturing, warehouse/storage, parking, information technology, recreation, transportation, mixed-use development, or health system facilities.

Rehabilitation of existing structures for retail business use qualifies as "improvements to be constructed" under the agreement provisions.

Effective date of October 1, 2022.